The Yield Growth Corp. Keeps Growing Like a Weed or a Mushroom -- CFN Media
Seattle, Washington--(Newsfile Corp. - November 26, 2019) - CFN Media (OTCQB: CNFN), the leading agency and financial media network dedicated to the North American cannabis industry announces publication of an article discussing The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF), its new products, and new distribution agreements to add to its already impressive global reach.
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While some companies are scratching their heads about what to make of the brutal treatment cannabis stocks have felt this year, The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) seems undaunted, expanding its cannabis business while rapidly emerging as a leading public company in the mushroom space.
The upstart has assembled a management team rich with branding experience earned at companies like Procter & Gamble, Johnson & Johnson, Skechers, Best Buy and M·A·C Cosmetics to build new brands employing old world therapeutics for modern-day ailments.
A Global Hemp Brand
Yield Growth owns the cannabis wellness brands Urban Juve, Wright & Well and Jack n Jane. As hemp-based CBD-based beauty products make their way into the mainstream, Urban Juve, has been featured in popular publications globally, including UK Vogue, Vanity Fair UK and Elle Canada. The timing of the media exposure couldn't be better with Urban Juve products spreading across more than 8,000 retail locations in Canada, Colombia, Brazil, Greece and Cyprus.
To the point of Greece, a distribution agreement with Melorganics kicked off this month, sending about 2,500 Urban Juve products to the cradle of Western civilization. Melorganics is responsible for distribution in Greece and Cyprus and with the pact freshly amended, Romania, Bulgaria and Serbia have been added to the list.
Urban Juve and Melorganics have moved swiftly to now have 11 Urban Juve products registered in the European Union. With the addition of Romania, Bulgaria and Serbia, Melorganics has committed to place the first purchase order for Urban Juve products for these territories by the end of the year.
At this time, Urban Juve is the primary revenue driver for Yield Growth, so these new sales regions will be important to continue the steep growth trajectory the company is on. During the third quarter, revenue was $1.9 million, a big leap from about $400,000 a year earlier.
Trendy Mushrooms, Magic and Not
Mushrooms are being called by some "the new cannabis," evoking memories of where the cannabis space was a decade ago before the so-called pot stock boom. Yield Growth has moved with a purpose in this field lately, establishing Flourish Mushroom Labs as a subsidiary and making acquisitions that stockpiled the new company with over 130 mushroom recipes for a variety of consumer goods, such as teas, soups and coffees.
Flourish Labs intends to initially focus on mushroom coffee, with intentions for the first coffee mix product to be launched in the coming months.
It's important to recognize that while "magic" mushrooms, those that contain the psychedelic psilocybin, are certainly part of the equation, they are a smaller part of the strategy right now. Many experts have opined that psilocybin has great potential to treat a number of difficult diseases and conditions, such as depression, anxiety and post-traumatic stress disorder, but being a Schedule I drug at the federal level has severely limited clinical research to validate the anecdotal evidence.
Recently, Denver and Oakland decriminalized magic mushrooms and reports are that Santa Cruz and Chicago are strongly considering changing their laws as well, perhaps signaling the start of the shift towards legal magic mushrooms much in the same way cannabis and its derivatives have been steadily legalized. Flourish will explore the psychedelic mushroom opportunity as it goes headlong into the functional mushroom space, as many of the product formulas could simply replace one type of functional mushroom with one containing psilocybin as a therapeutic.
Functional mushrooms are quietly surging in popularity amongst hipsters and health-conscious individuals. These mushrooms - which have names like Lion's Mane, Turkey Tail, Reishi, Shitake, Chagas and Cordyceps - do not have any psychoactive effect, but they have, however, been lauded for a wide spectrum of health benefits ranging from boosting the immune system to lowering cholesterol.
Boomin' Mushroom Market
Market intelligence firm Mordor Intelligence forecasts the functional mushroom market to grow from $5.8 million in 2018 by 6.4% annually through 2024.
Whole Foods named functional mushrooms as a top food trend for 2018. Apropos, super powders were also named as a top food trend, including the mention of the rising use of ground turmeric powder, a popular spice used in Ayurvedic medicine that dates back thousands of years. This has relevance insomuch as Ayurvedic formulas are integral to Yield Growth's fundamental business model to use ancient methods for modern healing.
To lend a little more color as to the opportunity for a new player in the mushroom market, Four Sigmatic, a functional mushroom product upstart founded in 2012, generates $61.7 million in annual revenue, according to Crunchbase.
As part of the license agreement in which Yield Growth granted Flourish rights to mushroom product formulations, Flourish has paid Yield Growth $1.8 million in share consideration (90M shares). An additional $1.2 million in cash is due over the next 24 months, but it is subject to modifications based upon Flourish becoming a public entity. In that same lane, the 90 million shares of stock will be held in escrow until Flourish completes an initial public offering and, even then, only be slowly released over three years.
With the license in hand and new products in the works, Flourish has moved forward with aligning international distribution. This month a one-year exclusive distribution agreement was forged with Eurolife Brands that will take the Flourish mushroom coffee line to Germany, Switzerland and the United Kingdom. Furthermore, the agreement provides for Eurolife to have non-exclusive rights to additional territories for a period of two years as well as laying out a plan to fold the new coffee mixes into Eurolife's ecommerce platform during the second quarter of 2020.
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